203 E Lewiston AveFerndaleMI48220
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Ferndale at 203 E Lewiston Ave, Ferndale, MI, 48220 offers a 8.79% rental yield on a $277,000 purchase with $2,028/mo rent. Total monthly income registers $2,028/mo, and a $1,356/mo payment leaves $201/mo available for distribution. Annual cash flow reaches $2,413/yr on $91,826 to close, and return on cash invested stands at 22.54% in year one. Equity gained on principal adds $1,787/yr while 5% annual appreciation supports $76,530 over five years. Portfolio math shows five-year ROI at 117.5% and total cumulative return in cash at $107,895. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,028/mo property income against a $1,356/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1922
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48220, Ferndale, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,987 (100%) |
| Owner Occupied HU | 7,505 (62.6%) |
| Renter Occupied HU | 4,002 (33.4%) |
| Vacant Housing Units | 480 ( 4.0%) |
| Median Home Value | $261,162 |
| Average Home Value | $291,163 |
Housing Distribution
Address Breakdown
Residential
11,565
Single Family
10,425
Multi-Family
1,140
Businesses
1,089
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